In a shocking news, one of India’s biggest gaming companies, Mobile Premier League (MPL), has announced that it will be laying off as many as 350 employees, citing the latest imposition of 28% GST on online gaming as the reason for the bold step.
This will be the second round of layoffs at MPL in a span of a little over a year. Last year in May, the company let go of over 100 people following an exit from the Indonesian market. MPL was started in 2018 by Sai Srinivas and Shubh Malhotra. Today the platform offers over 60 games across several categories, such as daily fantasy sports, poker, rummy, quizzing, board games, puzzle, and other casual games. The platform has an Android app as well as an iOS app. Reportedly, the platform has over 90 million registered users across the Asian, European, and North American continenets.
After the company raised $150 million in September last year, it was reportedly valued at $2.3 billion, thus marking its entry into the unicorn club. As per reports, this move is going to impact almost 50% of the company’s workforce in India. The most affecting section of the company will be the product team which will face more than 60 job cuts.
The founders conveyed their decision to their employees through an internal email.
Dear Leaguers,
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Amarylisa Gonsalves is a Content Writer at Gutshot Magazine. Advancing from a marketing background, she found her calling in writing. She takes delight in exploring genres and is a curious learner. Patient and ambivert, she believes in letting her work speak for itself. Apart from content writing, she finds solace in writing poetry by expressing herself through words. Additionally, she adores indulging in anything that satisfies her creative self, like drawing and DIY crafts.
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